KLA - Kalahari Resources Inc

[gee]

Nov 06, 2009 09:00 ETKalahari Resources Announces Drilling to Follow-Up on Past High-Grade Intersection of 236.57 g/t Gold Over 0.88 Meters
- PROPERTY ADJACENT TO TWO PAST PRODUCING MINES, SIGMA AND LAMAQUE, WHICH PRODUCED OVER 9 MILLION OUNCES OF GOLD, PRIMARILY FROM NARROW, HIGH-GRADE VEINS ASSOCIATED WITH DIORITIC 'PLUGS'

- TOP PRIORITY TARGET FOR DRILLING - EXTENSION OF TRIANGLE ZONE PLUG ON CLAIM OPTIONED IN SEPTEMBER 2009

- THE GEOPHYSICAL SIGNATURE OF THE TRIANGULAR ZONE BELIEVED TO DEFINE A DIORITIC PLUG IS LARGER THAN THE GEOPHYSICAL SIGNATURE THAT IS ASSOCIATED WITH THE MAIN PLUG AT THE PAST PRODUCING LAMAQUE MINE TO THE IMMEDIATE NORTH OF THE PROPERTY. OVER 3.6 MILLION OUNCES WAS PRODUCED FROM THE MAIN PLUG, REPRESENTING THE MAJORITY OF THE LAMAQUE MINE'S 4.5 MILLION OUNCES.

- PREVIOUS DRILLING ON THE TRIANGLE ZONE INTERSECTED 236.57 G/T GOLD OVER 0.88 METERS

- FRAGMENTED OWNERSHIP OF PROPERTY HAS HINDERED PREVIOUS EXPLORATION EFFORTS, AGREEMENTS HAVE NOW BEEN SIGNED (NEWS RELEASE OCTOBER 30, 2009, PENDING SHAREHOLDER AND REGULATORY APPROVAL) TO CONSOLIDATE ENTIRE PROPERTY UNDER KALAHARI
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 6, 2009) - Kalahari Resources Inc. (TSX VENTURE:KLA) (the "Company") is pleased to announce it is scheduled to commence a 2000 m diamond drilling on its Lamaque Property in Val-d'Or, Quebec later this month. The property is adjacent to the Lamaque and Sigma Mines, which collectively produced over 9.5 million ounces of gold, located within the prolific Abitibi Greenstone Belt north of the Cadillac Break.

Drilling will test the extension of the triangle magnetic anomaly, located on the Roc d'Or east extension, where the T-8 geophysical target has been delineated. This target is approximately 3 times larger than the T-5 geophysical signature at the no. 4 plug, 800 m to the north where the majority of the Company's current resource has been defined. Past drilling at the Triangle Zone , or T-8 target, on the western limit of the anomaly, returned from drill hole TM-06-01: 6.51 g/t over 6.71 m from 82.72 to 89.43 m and 236.57 g/t over 0.88 meters from 294.65 m to 295.53 m.

"The recent acquisition of the Triangle Zone as well as the signing of agreements for consolidation of the remaining 2768 acres in the Lamaque project is a major milestone for the Company, especially given the current condition of the precious metals market. We are now able to focus on the upcoming drill program, specifically on the Triangle Zone, which geophysical work and previous drilling have confirmed has characteristics similar to other dioritic plugs in the area," comments Company Chairman, Richard Hughes. "Past production from adjacent mines speak to the potential of these plugs and the associated gold mineralization found in veins or 'flats' associated with them. The 2006 high-grade intersection Kalahari drilled was a few meters away from the boundary of the recently optioned claim, setting the stage for the upcoming drill program. Drilling will focus on defining the extent of the plug and testing for any associated gold mineralization."

To view a map of the Lamaque property, please click on the following link or cut and paste the link into your web browser: http://media3.marketwire.com/docs/KL...ignatures1.pdf

Further to our news release of October 30, 2009, we note that for the purposes of the Kalahari/Golden Pond & Kalahari/Tundra transactions, Richard Hughes is not an arms-length director.

About the Lamaque Property

Kalahari has negotiated the right to 100% ownership of the 3,074 acre Lamaque property. The property is located in the Abitibi Greenstone Belt, one km north of the "Cadillac Break" and immediately south of the Lamaque and Sigma mines. The Lamaque mine on the northern boundary of the property produced 3.4 million ounces of gold over its lifetime primarily from the 'Main' plug, a geological feature similar to the no. 4 Plug located on the property. The No. 4 Plug and another zone known as the No 10 Vein collectively have an inferred mineral resource of 1,365,000 tons grading 0.186 opt gold (cut) or 0.275 opt gold (uncut) as audited and reclassified by Watts, Griffis & McOuat's NI 43-101 Technical Report, dated September 2004 (see Sedar October 20, 2004 for details of report). Since the Company acquired the Lamaque property in 2003 over $4.5 million has been spent on exploration expenditures. There are a number of other priority gold targets that the Company plans to test during this program many of which have never been drilled.

[overpar]

Tip of my hat to Gee, whose posts first alerted me to KLA. Lets hope this news gives the shares a nice kick start.

[knowsnothing]

this stock is on a huge slow uptrend, I will be adding more if more good news come out

[3junior]

current ask 5 cents
this stock is the killer

[gee]

excellent week for kla ... we were able to overcome the resistance at .04 and .045 and closed at .05.

Looking forward to next week.

[knowsnothing]

there is a note on the website about a new site today, dont see anything new yet. I will be waiting for that site , nice to see a new 52 week high today

[Umpolung]

Added TYE, LME and KLA to my charts today (my preference in same order).

[knowsnothing]

I just called the company, they are having a new website which was supposed to be up and running by last Friday, but it will be on sometime soon this week. They hit a fresh 52 week high of 6 cents today with good volume (almost 1 million shares traded)

[gee]

looking good ... the move to .06 has been a lot easier, should see the momentum continue.

[gee]

Kalahari Resources Increases Drill Program From 2000 Meters to 6000 Meters on Lamaque Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 13, 2009) - Kalahari Resources Inc. (TSX VENTURE:KLA) (the "Company") is pleased to announce that, subject to financing, it will be expanding its recently announced drill program (see news release November 6, 2009) from 2000 meters to 6000 meters. Drilling will focus on numerous targets across the Lamaque property as well as follow-up on a past high-grade gold intersection adjacent to a recently optioned claim. The Company recently entered into an Agreement with joint venture partners Tundra Gold Mines Limited ('Tundra') and Golden Pond Resources Ltd. ('Golden Pond') on the Lamaque property to acquire their remaining interests in exchange for shares in the Company. The agreement has received conditional approval from the TSX Venture Exchange and will be finalized upon shareholder approval in upcoming Tundra and Golden Pond Extraordinary General Meetings scheduled to take place November 23, 2009.

In this regard, it has arranged for a private placement for up to 20,000,000 units for total proceeds of up to $1,000,000. The financing will consist of flow through and non-flow through units priced at $0.05 per unit. Each of the units will consist of one flow through or non-flow through common share and one non-flow through, non-transferable share purchase warrant entitling the holder to purchase one additional common share for two years at a price of $0.10 per share. In accordance with Exchange policies, finders' fees may be paid on the funds raised. The MineralFields Group is a participant in this private placement, which is subject to regulatory approval. The proceeds will be used for exploration on the Company's Lamaque property as well as for general working capital.